Kazakhstan 3Q2018 Market Portfolio

Kazakhstan 3Q2018 Market Ranking

A.M. Best international rating agency upgraded ratings of Insurance Company Kommesk-Omir - Financial Strength Rating from C++ to B- and the Long-Term Issuer Credit Rating from "b+" to "bb-". Outlook "Stable". According to ratings, Kommesk-Omir is one of top 5 insurance companies that operate in general insurance field.

According to results of March the volume of insurers' net profit reached almost KZT 13 billion (EUR 33.14 million), a year ago this figure amounted to KZT 1 billion (EUR 2.96 million)* - said analytical portal about business and finance Finprom.kz.

FITCH Ratings affirmed Kazakhstan's long-term foreign-currency issuer default rating (IDR) at 'BBB" with a Stable Outlook which reflects strong public and external balance sheets due to large government savings and a substantial sovereign net foreign asset position.

S&P Global Ratings assesses industry and country risk in the Kazakh non-life sector (-/Stable/-3) as moderate, which reflects high country risk resulting from a highly centralized political environment and moderate GDP growth.

Insurance market of Kazakhstan saw growth in the beginning of the year. Overall written premiums grew by 69.7%, while in the same period of 2017 also had an up-trend by 49.6%, - says Kazakh internet data portal Allinsurance.kz.

A.M. Best has affirmed the Financial Strength Rating of C++ (Marginal) and the Long-Term Issuer Credit Rating of "b+" of Insurance Company London-Almaty JSC (London Almaty) (Kazakhstan). The outlook of these Credit Ratings (ratings) is stable.

In 2018 Kazakh market is expecting significant changes, according to the Chairman of the Management Board of the life insurer NOMAD Life and participant of the commission on amendment of insurance legislation, Kayrat CHEGEBAEV.

On 19-20 April, 2018, leading world risk management experts will address the Kazakhstan's audience at the annual XIV International Risk Management Conference held by Eurasia IC JSC in Almaty at The Ritz-Carlton Hotel.

A.M. Best has revised the
outlooks to stable from negative and affirmed the Financial Strength
Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb" of Halyk-Kazakhinstrakh, Insurance Subsidiary Company of Halyk Bank of Kazakhstan, JSC (Kazakhinstrakh) (Kazakhstan).